Harrods To Sell Gold

The next time you shop at Harrods, you might want to consider picking up a couple of gold bars – not chocolate bars wrapped with gold-colored paper but real ones that weigh about 12.5 kg each.

The Knightsbridge luxury department store announced last Thursday that it will begin selling pure Swiss gold bullion, the London Times reported.

The result of a collaboration with Swiss refiner Produits Artistiques Metaux Precieux, it couldn’t have come at a more opportune timing, with the price of gold hitting an all-time high of USD 1,070.40 an ounce last week.

The bars are currently displayed in a miniature vault on the lower ground floor of Harrods, with each full-sized bar expected to carry a price tag of USD466,000.

Alongside the gold bars, which range from one gram to 12.5 kg, Harrods will also offer seven gold coins from various countries including Australia, the U.K. and the United States.

Speaking to the Times, Chris Hall, head of Harrods Gold Bullion, said: “For many people this is a new and unfamiliar asset class that demands absolute trust…Harrods saw the opportunity to help individuals buy physical gold in a prudent manner.”